SAN DIEGO--(BUSINESS WIRE)--XYO, the geospatial cryptonetwork, is proud to announce support for XYO on Coinbase Custody, the first full-service, regulated, comprehensively-insured, and 100 percent offline custody provider in crypto. The Coinbase Custody service mainly serves large institutions, hedge funds and similar firms, providing them with a way to actively, safely and easily invest in leading cryptocurrency networks.
Coinbase Custody is a powerful combination of secure, market-proven cold storage capabilities for cryptocurrency assets, an institutional-grade broker-dealer and attending reporting services, and a comprehensive client coverage program. Coinbase Custody was developed around a simple thesis: that institutions need a regulated and trusted partner to help store their crypto assets. The approach has helped the service provider scale to more than 60 clients and $600 million in assets under custody. No other provider can match the organization’s track record of security and regulatory compliance, nor its comprehensive, best-in-class insurance coverage.
With this development, XYO will join the ranks of the 21 industry-leading cryptocurrency assets currently listed on Coinbase Custody, including Bitcoin, Civic, Ethereum, Litecoin, Maker, OmiseGO, Ripple, Stellar and others.
Unique, value-add features of Coinbase Custody include:
- On-chain segregation of crypto assets
- Split, offline private keys that require a quorum of geographically distributed agents to use cryptographic hardware to sign transactions
- Multiple layers of security
- Robust cold storage auditing and reporting
“Coinbase Custody offers a best-in-class storage option for a range of crypto holders,” noted Sam McIngvale, Head of Product, Coinbase Custody. “Institutions, asset issuers, miners and individuals with large crypto holdings can all benefit from the regulated, insured and fully audited storage platform that Coinbase Custody brings to the table. We look forward to working with the XYO team and their ecosystem of investors and holders as the project continues toward its goal of creating the first geospatial blockchain network backed by cryptography.”
“As the most trusted and easiest-to-use crypto custody service for financial institutions and hedge funds, Coinbase Custody provides the industry’s most advanced security and insurance for digital assets available today,” commented Arie Trouw, Co-Founder and CEO of XYO. “Now, any institution interested in holding XYO tokens can be fully confident in the backing of a secure custodial solution.”
Since 2012, with a Dataist focus, XYO has developed trusted IoT technology that connects the digital world with the physical one. In 2018, the company unveiled the XYO Network, the world’s first geospatial blockchain network backed by cryptography. With more than 1 million location-verifying beacons around the planet, XYO technology rivals the GPS network, and radically transforms the world’s leading industries. Partners include mapping giant Esri, FedEx Research Institute, Re/Max Mexico and Spaceflight Industries. XYO Advisors come from leading organizations including National Geographic and the World Economic Forum. For more information, visit us at www.xy.company and https://xyo.network.